https://www.taxtmi.com/acts?id=20356 Advance payments from foreign buyers require the exporter to ship within three years, cap interest at LIBOR plus 100 basis points (or other RBI directed benchmark), and route shipment documents through the authorised dealer who received the advance; refunds or interest payments after the three year period need prior Reserve Bank approval, while export agreements may validly provide for shipment beyond that period. en-us Thu, 28 Jan 2016 12:49:00 +0530 Fri, 14 Nov 2025 17:04:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20356 Advance payments from foreign buyers require the exporter to ship within three years, cap interest at LIBOR plus 100 basis points (or other RBI directed benchmark), and route shipment documents through the authorised dealer who received the advance; refunds or interest payments after the three year period need prior Reserve Bank approval, while export agreements may validly provide for shipment beyond that period. Act-Rules FEMA Thu, 28 Jan 2016 12:49:00 +0530 https://www.taxtmi.com/acts?id=20356